Jim Cramer on “Mad Money.”
- On Tuesday, CNBC's Jim Cramer told investors to remember the market's solid performance over the past quarter, suggesting things have broadened considerably beyond Big Tech.
- He reviewed the top performers on the S&P 500 over the past three months, including Kellanova, GE Vernova and Palantir.
As heightened tensions in the Middle East sent the major averages tumbling on Tuesday, CNBC's Jim Cramer reminded investors about the market's solid performance over the past quarter. He suggested the market has broadened considerably beyond Big Tech and reviewed the top performers on the S&P 500, saying the past three months saw "the revenge of the little guy companies."
"The recent rally's all about companies that you haven't heard of," Cramer said. "It is a remarkable list that represents a real broadening out of the winners. Some would say it's a sign of where we're headed. I might not go that far, but clearly we need to start digging a lot deeper to find winners going forward."
Here are the companies with the highest percent gain in the S&P 500 over the past quarter:
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- Erie Indemnity: Cramer called Erie Indemnity "truly emblematic" of the eclectic group of non-tech stocks that led the S&P 500 over the past few months. The company manages an insurance exchange, and he said insurance companies benefit when interest rates come down.
- GE Vernova: This power company — a spin off of General Electric — has performed well as demand for power generation ramps up, Cramer said.
- Palantir: According to Cramer, the data analytics company posts solid earnings and has an "avid fan base" on Wall Street that was excited when the stock joined the broad market index in September.
- Mohawk Industries: Cramer called Mohawk Industries a "natural buy" in the rate cutting cycle, as flooring is essential for construction. The company manufactures different kinds of flooring, including carpet, hardwood and vinyl.
- Builders FirstSource: Like Mohawk Industries, Cramer praised construction wholesale supplier Builders FirstSource as "an obvious rate cut winner," saying investors should buy the company here.
- Kellanova: Cramer contributed Kellanova's success to its upcoming acquisition by Mars for about $36 billion. The snack company is a spinoff of Kellogg, which split its snack and cereal businesses last year.
- CBRE: CBRE's gains suggest the commercial real estate business may not be as bad as some on Wall Street think, Cramer said. The company performs a variety of services in the sector, including valuation, property management and transactional services.
- Vistra: Cramer said it may be difficult to imagine a "boring old utility" making big market moves —Vistra's stock is up about 218% year-to-date — but clean energy is in high demand for hyperscalers building a lot of new data centers, he added. The power company operates several nuclear power plants.
- Stanley Black & Decker: Cramer noted that this tool and household hardware manufacturer tends to outperform when mortgage rates decrease, pointing out that shares soared as investors anticipated interest rate cuts. Cramer said he thinks the stock can go higher.
- Axon: Cramer suggested that investors may not be giving enough attention to Axon, saying it's been "red-hot for ages." The company develops equipment for law enforcement like body cameras and tasers, and it also has a business helps keep track of police records.
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Money Report
Disclaimer The CNBC Investing Club Charitable Trust holds shares of Stanley Black & Decker.
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